Posted on 13 April 2012. Tags: forex for dummies
FOREX for dummies is taking learning back to the very basics and teaching people who have never heard of the international market and what it is all about. The foreign exchange (FOREX) deals with the trading of currency; it has a lot of differences to the stock markets most people are acquainted with. For example, the international market is open six days a week; this is because of different time zones and the desire for all the countries of the world to be able to trade when it is convenient. There are three main types of investors in the FOREX: Scalper, Intra-day Trader, and Swing Trader.
The scalper is an interesting position that takes years of training and a feel for how the market works; these traders often work with time tables under fifteen minutes and they rarely hold onto anything for longer than that. The scalper gets an insane rush, but requires a great deal of training; this is not a method recommended for people that need FOREX for dummies. The intra-day trader does not hold onto trades for more than a day and dislikes having orders open while he or she is sleeping. The trader will constantly study charts and invests a lot of time each day to buying and selling; the profits for this kind of trader are high, but the time investment is just as high. The swing trader is more common and less intense investor; he or she will do research and hold onto trades for days at a time as he or she looks to make a stable low risk profit.
The power of the FOREX is often overwhelming to the new investor; even someone who has used the stock market regularly can find it confusing. Taking the time to practice trading on the international market is important, as is deciding how much time to invest in trading; the casual investor can profit, but it can quickly turn into a hefty time investment. FOREX for dummies is often a misnomer because it requires patient, training, and experience to understand and make a consistent profit from the international market.
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